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Nonprofiteer
← TENNESSEE VALLEY AUTHORITY CHEROKEE ELECTRIC COOPERATIVE

Form 990 for tax year 2022

Filed by TENNESSEE VALLEY AUTHORITY CHEROKEE ELECTRIC COOPERATIVE.

Totals

Total revenue
$66,658,185
Total expenses
$66,658,185
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$65,493,474
Investment income
$734,451
Other revenue
$430,260
Total assets, end of year
$141,153,336
Total liabilities, end of year
$37,990,176
Net assets or fund balances, end of year
$103,163,160
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: Sales of Electricity

    total $65,421,846 · related or exempt $65,421,846

  • 2b · Program service revenue: Patronage Dividends

    total $71,628 · related or exempt $71,628

  • 3 · Investment income

    total $649,708 · related or exempt $649,708

  • 6a · Gross rents

    personal property $430,260

  • 6b · Less rental expenses

    personal property $0

  • 6c · Rental income or loss

    personal property $430,260

  • 6d · Net rental income or loss

    total $430,260 · excluded $430,260

  • 7a · Gross sales of assets other than inventory

    other assets $84,743

  • 7b · Less cost or other basis and sales expenses

    other assets $0

  • 7c · Gain or loss

    other assets $84,743

  • 7d · Net gain or loss

    total $84,743 · excluded $84,743

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $4,164,861

  • 5 · Compensation of officers, directors and key employees

    total $861,787

  • 20 · Interest

    total $480,483

  • 22 · Depreciation, depletion and amortization

    total $3,943,426

  • 24a · Other expenses: Cost of Power

    total $40,202,194

  • 24b · Other expenses: Distribution-Maintenanc

    total $6,666,812

  • 24c · Other expenses: Taxes

    total $3,389,410

  • 24d · Other expenses: Distribution-Operations

    total $2,339,667

  • 24e · All other expenses

    total $4,609,545

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $225 · end of year $225

  • 2 · Savings and temporary cash investments

    beginning of year $24,959,773 · end of year $26,207,643

  • 4 · Accounts receivable

    beginning of year $6,694,823 · end of year $4,952,227

  • 7 · Other notes and loans receivable

    beginning of year $81,977 · end of year $41,974

  • 8 · Inventories for sale or use

    beginning of year $1,137,025 · end of year $1,503,574

  • 9 · Prepaid expenses and deferred charges

    beginning of year $598,461 · end of year $848,700

  • 10a · Land, buildings and equipment: cost or other basis

    $163,096,166

  • 10b · Land, buildings and equipment: accumulated depreciation

    $60,033,115

  • 10c · Land, buildings and equipment, net

    beginning of year $99,648,766 · end of year $103,063,051

  • 13 · Investments: program-related

    beginning of year $2,566,851 · end of year $2,585,942

  • 15 · Other assets

    beginning of year $2,250,000 · end of year $1,950,000

  • 17 · Accounts payable and accrued expenses

    beginning of year $11,300,378 · end of year $10,258,869

  • 23 · Secured mortgages and notes payable

    beginning of year $11,424,912 · end of year $10,460,650

  • 25 · Other liabilities

    beginning of year $14,236,569 · end of year $17,270,657

  • 29 · Capital stock, trust principal or current funds

    beginning of year $101,805 · end of year $102,515

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $100,874,237 · end of year $103,060,645

Mission and programs · 2022

Mission

To provide reliable electric power and related services to our members at the most affordable cost.

Activities or mission (Part I)

To provide electric utility service to the cooperative's members.

  • Utilizing approximately 2,816 miles of distribution lines, Cherokee Electric Cooperative provided 488,767,681 kilowatt-hours of electric energy to its cooperative members located in portions of Cherokee, DeKalb, Marshall, Etowah, and Calhoun Counties.

As filed on the 2022 return.

Listed in Part VII

  • Dewitt Cox

    Director/Vice President

    Total calculated
    $35,054
    From this org
    $35,054
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Doris Salter

    Director/Secretary/Treasur

    Total calculated
    $33,045
    From this org
    $33,045
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Kennith Moseley

    Director

    Total calculated
    $35,166
    From this org
    $35,166
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Ronnie Gaylor

    Director

    Total calculated
    $35,305
    From this org
    $35,305
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Thomas Hilburn

    Director

    Total calculated
    $35,003
    From this org
    $35,003
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Wayne Clanton

    Director/President

    Total calculated
    $31,891
    From this org
    $31,891
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Phylis Hill

    Director

    Total calculated
    $35,047
    From this org
    $35,047
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Honey Trammell

    Chief Financial Officer

    Total calculated
    $207,225
    From this org
    $127,021
    From related orgs
    $0
    Other
    $80,204
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $125,112
    Bonus
    $750
    Other
    $1,159
    Deferred
    $48,003
    Nontaxable benefits
    $32,201
    Filer's total
    $207,225

  • Randal Wilkie

    General Manager/CEO

    Total calculated
    $414,051
    From this org
    $284,327
    From related orgs
    $0
    Other
    $129,724
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $282,703
    Bonus
    $750
    Other
    $874
    Deferred
    $96,734
    Nontaxable benefits
    $32,990
    Filer's total
    $414,051

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
19 October 2023
IRS schema version
2022v5.0
Source object
202332969349301853

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